Interest on tds
This query is : Resolved
17 June 2013
Interest on tds is allowable expenses or not????
17 June 2013
under income tax act any penalty under any tax not allowed
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17 June 2013
No ,it is not allowed expenditure.it is disallowed.
The Hon’ble Supreme Court income Bharat Commerce & Industries v. CIT (1998) 230 ITR 733 (SC) held that interest for late payment of direct taxes is not deductible
Thanks & regards
Ganesh babu k
The Hon’ble Supreme Court income Bharat Commerce & Industries v. CIT (1998) 230 ITR 733 (SC) held that interest for late payment of direct taxes is not deductible
Thanks & regards
Ganesh babu k
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